$3M For 1st Time Homebuyers To Make A Down Payment Available In Montgomery County

MONTGOMERY COUNTY, MD — First-time homebuyers are encouraged to apply for assistance from the county’s $3 million in funding dedicated to two down payment assistance programs.

The two programs being funded by the county are the Montgomery Homeownership Program, administered by the State of Maryland’s Department of Housing, and the Montgomery County Homeownership Assistance Fund Program, administered by the Housing Opportunities Commission of Montgomery County. Each program will receive $1.5 million to assist first-time homebuyers.

The programs are accepting reservations and are available to help eligible homebuyers who purchase a moderately-priced home in the county. Reservations will be accepted until the money is gone.

The assistance program for homebuyers is part of the county’s ongoing efforts to address severe housing cost burdens and provide more paths to homeownership. The county committed the $3 million for down payment assistance in fiscal year 2023, which started July 1.

“For many county residents, it is difficult to pull together a down payment due to rental housing cost burdens and racial wealth disparities,” Montgomery County Executive Marc Elrich said. “By providing significant assistance with down payment and closing costs, people have a chance to buy their first home. I have long advocated for this type of assistance and I am glad we have been able to continue and expand new homeowner supports.”

For more information or to apply, visit:

• Montgomery Homeownership Program Phase VII.
• Montgomery County Homeownership Program through the Housing Opportunities Commission.